SPECIAL REPORT
Insurance Markets Advance as ASEAN Countries' Economies Grow

The development of insurance markets in the major economies of the Association of Southeast Asian Nations (ASEAN) has not lagged behind these countries’ economic growth. Their combined economy continues to illustrate the ASEAN countries’ significance within the Asia-Pacific region, and they will become an increasingly integral part of the global economy. In 2013 the total nominal gross domestic product (GDP) from the 10 member states of ASEAN was USD 2.41 trillion. With this measure of GDP, the ASEAN group would rank seventh in the world behind the United Kingdom at USD 2.54 trillion, and ahead of Brazil (USD 2.24 trillion), Russia (USD 2.12 trillion), Italy (USD 2.07 trillion) and India (USD 1.87 trillion).

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